ECONOMY & NATION


Moneylife Digital Team 08 August 2014
The RoC has appointed an official liquidator to wind up Geodesic following orders from Bombay High Court. In July, the company's five directors were booked for cheating investors for Rs720 crore   Geodesic Ltd, the internet software and service provider, which has run up more than...

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There are excellent opportunities for setting up urea plants in Myanmar. This would help Myanmar to increase its agricultural production and also help India, as the agreed balance of urea could be shipped back to India   India's External Affairs Minister, Sushma Swaraj is on a visit...

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Akash Karmarkar 08 August 2014
While Bitcoin investors have been quick to revolt against regulations, the system reeks of a lack of transparency and Bitcoins have exhibited a characteristic typical of a highly speculative market   Bitcoin is a highly speculative and unregulated virtual instrument, which has been...

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Will the experiment of handling large NPAs through a new entity, National Asset Management Company -NAMC, succeed? The slow legal process and low accountability at all levels are big hurdles   The proposed National Asset Management Company (NAMC) is expected to take over large...

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Moneylife Digital Team 07 August 2014
Have QNet team leaders misled the Mumbai Sessions Court by submitting a fake document along with their bail application? The Economic Offences Wing has made this sensational disclosure. The police official, whose signature is on the document has also denied having prepared or signed...

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Moneylife Digital Team 07 August 2014
Although it still early to call it a trend, the Fitch group ratings unit said it believes this could be the beginning of a broad-based industrial recovery for India   India Ratings and Research (IndRa), a Fitch group unit has revised its FY15 gross domestic product (GDP) growth...

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Moneylife Digital Team 07 August 2014
RCom received Rs650 crore from Telecom Infrastructure Finance, a promoter group entity as 50% payment for share allotment on preferential basis   Anil Ambani-led Reliance Communications (RCom) on Thursday said that it has received the first instalment of Rs650 crore from the promoter...

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With gross NPA levels of Rs2.17 lakh crore in March 2014 and a restructured portfolio of Rs3.30 lakh crore, of which a lot will become NPAs, banks will continue to sell NPAs to the ARCs.   Internationally, the bankruptcy codes and effective legal mechanisms ensure speedy disposal of...

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Moneylife Digital Team 05 August 2014
According to the ratings agency, majority of banks maintained an SLR above 25% when the SLR was 23% as on 31 March 2014 and therefore, the actual impact may be limited to banks which are on the fringe of this ratio   The Reserve Bank of India (RBI), in its third bi-monthly credit...

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A 10-point digital roadmap for Mr Narendra Modi, that protects our assets, ensures that the right projects are undertaken, and delivers justice, equality, and liberty for all   Prime Minister Narendra Modi has inherited an India with major challenges: an economy that fails to...

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Moneylife Digital Team 05 August 2014
While keeping key rates unchanged, the RBI said in consonance with the calibrated reduction in the SLR, it is necessary to enhance liquidity in the money and debt markets so that financial intermediation expands apace with a growing economy   The Reserve Bank of India (RBI), in its...

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India exports iron ore at $100 a tonne, depending on grades while steel is imported at $600 to $700 per tonne. Any further delay in increasing iron ore production is dangerous to domestic steel industry and the mining industry will also suffer, creating increased unemployment in the...

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The government's idea to get people to voluntarily forgo their LPG subsidy as an exercise in "nation building" has raised peoples' hackles.  The SMS from oil companies says, "Want to join Nation Building? It's simple - just give up LPG subsidy." Now if only the minister or the prime minister...

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Moneylife Digital Team 01 August 2014
The apex court has also asked Dalmia, the MD of DSQ Software to appear before it on 25th August   The Supreme Court has issued a bailable warrant against Dinesh Dalmia, the managing director of DSQ Software, who was barred from markets for seven years by Securities and Exchange Board...

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Moneylife Digital Team 01 August 2014
Business conditions in the Indian manufacturing sector improved for the ninth consecutive month in July, as companies scaled up production in response to robust levels of demand, the HSBC survey says   India’s manufacturing sector growth jumped to 17-month high in July, driven by...

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Moneylife Digital Team 31 July 2014
The Power ministry had said that supply of excessive stones and boulders especially from Bharat Coking Coal Ltd, a unit of Coal India is a matter of concern, which results in high detention of railway rakes and damage to coal handling system of power plants   The Indian government has...

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Moneylife Digital Team 31 July 2014
ONGC will pay Rs13,200.10 crore and another Rs1,846.55 crore will come from OIL as fuel subsidy for paying to oil marketing companies like Indian Oil, HPCL and BPCL   The Oil Ministry has fixed the subsidy payout by upstream companies such as Oil and Natural Gas Corp (ONGC) and Oil...

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Moneylife Digital Team 30 July 2014
The I-T department has requested taxpayers to save and white-list its official email ID so that it will not go to spam or junk folders   All taxpayers, while filing their annual returns with the Income Tax (I-T) department, are mandated to provide and validate email IDs and mobile...

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Due to strong mining regulations, Australia has good regulatory and enforcement mechanisms in place and Adani group is required to follow 36 conditions for their coal mine. Can India also adopt and follow the same module?   It is gratifying to note that Adani Group has received the...

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Moneylife Digital Team 29 July 2014
The Court has imposed a fine of Rs1 lakh for filing frivolous appeal asking the department to recover it from the officials involved and also take disciplinary action against them   Dismissing an appeal filed by Income Tax (I-T) department, the Bombay High Court levied a penalty of...

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